Bank OF Wilmington (NASDAQ:BKWW)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Bank OF Wilmington Charts. Click Here for more Bank OF Wilmington Charts.](/p.php?pid=staticchart&s=N%5EBKWW&p=8&t=15)
Bank of Wilmington Announces Completion of Common Stock Offering
WILMINGTON, N.C., Nov. 29 /PRNewswire-FirstCall/ -- Bank of Wilmington
(NASDAQ:BKWW) announced that it has completed the sale of 558,419 shares of its
common stock at a price of $10.75 per share. The offering was closed today.
The Bank received net proceeds of approximately $5.5 million from its sale of
shares after deducting sales commissions and expenses. The Bank intends to use
the proceeds of the offering primarily as additional capital to support its
continued growth, including growth expected to result from two new banking
offices that are proposed to be established during 2005 and 2006.
The offering was made through McKinnon & Company, Inc., Norfolk, VA, acting as
the Bank's sales agent on a best efforts basis.
As of September 30, 2004, the Bank had total assets of approximately $180.1
million, total loans of approximately $140.9 million, total deposits of
approximately $157.0 million and total shareholders' equity of $17.5 million.
It currently operates three full-service banking offices in Wilmington and
Hampstead, North Carolina.
This Press Release is not an offer to sell or the solicitation of an offer to
buy our common stock, nor will there be any sale of our common stock, in any
state or jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
that state or jurisdiction. Our common stock has not and will not be
registered under the Securities Act of 1933 in reliance on an applicable
exemption from such registration. Offers of our stock are made only by our
definitive Offering Circular. The shares of our common stock are not savings
accounts or deposits, or obligations of or guaranteed by us, and they are not
insured by the Federal Deposit Insurance Corporation or any other person or
government agency.
Disclosures About Forward Looking Statements
Statements in this press release relating to plans, strategies, economic
performance and trends, projections of results of specific activities or
investments, expectations or beliefs about future events or results, and other
statements that are not descriptions of historical facts, may be forward-
looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Forward-looking information is
inherently subject to risks and uncertainties, and actual results could differ
materially from those currently anticipated due to a number of factors, which
include, but are not limited to, risk factors discussed in our Annual Report on
Form 10-KSB and in other documents filed by us with the Federal Deposit
Insurance Corporation from time to time. Forward-looking statements may be
identified by terms such as "may," "will," "should," "could," "expects,"
"plans," "intends," "anticipates," "believes," "estimates," "predicts,"
"forecasts," "potential" or "continue," or similar terms or the negative of
these terms, or other statements concerning opinions or judgments of our
management about future events. Factors that could influence the accuracy of
such forward-looking statements include, but are not limited to, the financial
success or changing strategies of our customers, actions of government
regulators, the level of market interest rates, the competitive nature of the
financial services industry and our ability to compete effectively against
other financial institutions in our banking market, the level of market
interest rates, general economic conditions, and other developments or changes
in our business that we do not expect. Although we believe that the
expectations reflected in the forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or
achievements. We have no obligation to update these forward-looking
statements.
DATASOURCE: Bank of Wilmington
CONTACT: Cameron Coburn of Bank of Wilmington, +1-910-509-2000, or
Web site: http://www.bankofwilmington.com/